Ref Soyaoil On NCDEX Settled Up By 0.51% At 723.55

Ref Soyaoil on NCDEX settled up by 0.51% at 723.55 on demand hope in local mandis and on supply worries. Reports of heavy rains damaging crops lent support to the prices. Supply concerns in Argentina may shift demand to US. In addition to it, availability of other edible oil is improving in domestic market and fueling weakness in oil market.The export of oil meals more than doubled in December 2016 mainly driven by high demand of non-genetically modified (GMO) soybean meal from France

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